Audience Insights for Money Markets: How to Target Millennials and Gen Z
Millennials and Gen Z are a lot like their parents. They're looking for ways to get ahead and want to know more about the world around them. And while the financial services industry has been using marketing techniques to target millennials and gen Z since they were born, there's still a lot we don't know about these audiences—and what they're looking for in financial services.
Understand the terminology
Before you begin, it's essential to understand the terminology. Here are some terms to get started:
- Millennials (born between 1980 and 1996) are a large generation of consumers. They're more likely than other generations to use online and social media platforms like Facebook, Twitter, and Instagram.
- Gen Zers (born after 1997) are the "iGeneration." They're digital natives who grew up with access to technology at home and school; they tend to rely on social media and make most of their purchases through mobile apps rather than brick-and-mortar storefronts.
Why target Millenium and Gen Z?
Millennials and Gen Z are the future of money. They have a different perspective on money than previous generations.
Millennials and Gen Z are more interested in investing than older generations, so financial services firms need to understand how they think about investments, what kind of information would appeal to them, and how you could reach out to them if you wanted their business.
How much does Millenium and Gen Z Know about finance?
If you're looking to target millennial and Gen Z audiences, there's no better time than now. The most financially literate generation on the planet is also more likely to take financial advice from friends than any other age group.
Millennials and Gen Z are so well-versed in finance that they'll be able to help you make sense of your brand's messaging and products. You need a strategy for engaging with these digital natives—and it starts by listening closely to what they want from you as an organization.
It is essential to know your audience while understanding how they learn—and what they like best. With these insights in mind, you can create a message that resonates with everyone and help them know finance in their own way!
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